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What are the elements of a CBR?

Confidentiality NoticeMarket Demographics
Purpose & DisclaimersVendors
Executive SummaryCustomers
Company StrengthsCompetition
Company HistoryGrowth Opportunities
Marketing StrategiesReason For Sale
ProcessesPrice & Terms
PersonnelBusiness Financials
FacilitiesPro Forma Financials
Industry SummaryAppendix + Pictures

What is the content of a CBR Executive Summary?

Components Include:

Name                                Location             Hours of Operation

Reason for Sale                Ownership          Financial Snapshot

#Employees                      Brief Summary

The Brief Summary may address

  • Longevity of Company in the Market Area
  • Products/Services the Company provides
  • Some unique aspects of the Company
  • Seller’s Motivation and Objective

Company History?

Background of the Owner(s)

The Company’s Founding and Founder’s Vision The Company Evolution

Some of the Growth Milestones (e.g. #employees, Sales $ and / or Units, # Office Locations

Current Position of the Company

Company Strengths?

Niche / Unique Markets
Level of Brand Recognition
Proprietary Products, Services or IP
Unique Contracts or Certifications
Internal Procedures and Management Structure
Growth Trends


Discuss how the Company generates Sales
Sales Staff
Go into Detail on each source (if relevant).
Discuss % of Revenue as a factor of each.
Are there unexplored opportunities? Can they be quantified?

Daily Internal Operations?

  • Product and Service Pricing
  • Processing of Sales Leads
  • Manufacturing of Products (if applicable)
  • Shipping/Receiving Products Raw Materials / Inventory
  • Compliance Procedures
  • Entry of Data and Bookkeeping

Personnel Information?

Discuss Jobs, Individuals and Compensation, confidentiality at early stage is important!
Who Manages What?
How are they compensated?
What is the experience/education requirements?
What Benefits are provided?
Create and Organization Chart.
Identify Key Positions including Owners.


Location and Key Points about each location
Size and # of offices and work spaces
Percentage utilization of Space
Terms of Lease Agreement(s) Note: If Seller owns real

estate then terms and a lease must be prepared.


Who are the Customers (demographics)?
Is there a concentration of revenue with a few customers?
Are the customers repeat or new? Statistics if available.
How relationship driven is the revenue?
Are the customers being referred from someone?
What are customers buying?
Is there an overall breakdown / analysis as to type or category of sales revenue generated?

Growth Opportunities?

Buyers Pay for the History, but they are Buying the Future Performance!
Help a Buyer Visualize the Opportunities:
New markets to go after, marketing strategies, unrealized current opportunities
Highlight any relevant demographic, economic or industry changes that might help the business.
What would the current Seller do with more time and money?

Financial History

Three to Five Years of Recast Statements
Detail the Reasons for add backs or adjustments.
Make sure the Buyer understands these adjustments


Additional Photographs and Charts
Equipment List
Marketing Materials
Industry Trends and Research
Letters of Praise from Customers
Press Clippings
Awards & Commendations
Licensing Requirements
Additional germane literature (e.g. Franchise Documents)

Purpose of the CBR

Make it look Professional.
Tell a Compelling Story.
Give the Buyer the Information they want.
Set expectations on price and terms
Address any Potential Land Mines
Control the Dialogue, if Possible!

Important “Donts’”

Don’t go to market with missing details
Don’t over exaggerate or make false statements
Don’t include proprietary or sensitive information
Trade Secrets
Customer Names
Key Employee Names
Unique Market Strategies
Unique Lead Generating Strategies
Let us help you

Unlock your Value.

Thank You!


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